GMX DAO repurchases 12,380 GMX tokens for $85,000 as buyback program surpasses $2.4 million

GMX DAO continues its systematic token buyback campaign, having now repurchased over 384,000 GMX tokens for approximately $2.4 million at an average price of $6.25. The latest tranche saw 12,380 tokens acquired for roughly $85,000, adding to what has become one of the more aggressive treasury accumulation strategies in DeFi. The buyback machine in detail Since March 5, 2026, the GMX DAO has repurchased 313,650 GMX tokens for approximately $1.965 million, averaging $6.27 per token. The pace accelerated meaningfully in Q2 2026, when the DAO scooped up 228,030 tokens for around $1.41 million at an average of $6.18. One particularly notable weekly buyback occurred from June 24 to 30, when 23,280 GMX were acquired for $125,000. That batch averaged $5.37 per token, a meaningful discount compared to the broader program average of $6.25. The funding mechanism is what makes this program structurally interesting. The DAO redirected 27% of protocol fees, money that was traditionally distributed to GMX stakers as yield, toward these open-market buybacks. Stakers who were counting on passive income from fees are now watching those revenues get converted into treasury assets instead. Liquidity r...